After the news in pre-market, buyers pushed to take control. During the first part of the session, sellers fought and absorbed many buyer orders (we saw a couple of iceberg orders).
However, buyers took control of the 4060 level, pushing to break 4075, and mitigating the orders from the order block at 4090.
Buyers tested last liquidity at 4075, then were unable to consolidate 4060. A slow downtrend ensued until the market close. Sellers liquidated at 4030, and buyers were unable to take 4040. We had a liquidation during the European session, but sellers were not particularly active.
After the consolidation between 4060 and 4065, buyers began to push for higher prices. During the afternoon, large institutions began buying, before the sell-off at the close. This was likely done to balance their inventory.
We began testing 4070, but there were a large number of sellers. The market dropped to the final test for liquidity at 4030 (previous market close) and sellers capitulated. During the session, large players consolidated the uptrend, and eventually they broke through 4055 with a strong push. They tested 4075, but the price was not yet ready.
We took all liquidity under 3980, and now the market has returned to consume liquidity at 4055. Buyers pushed hard to break 3995-4000, and then they didn't need much volume to reach 4040, so they are now in control. Let's see how much liquidity we will find at 4055.
Buyers tried to break the 4040 level, but the market was lethargic and slow. After a push with large volume, they were not able to start a bull trend, and eventually capitulated. Sellers took control, and broke the 4020 level. Buyers were unable to push over that level. Next target for liquidity is the 3990 to 3980 consolidation range. Let's see if the passive...
We consolidated between 3980 and 3980 during the Asian and European sessions. In pre-market, institutional buyers started to push for 4020 and above. At 4040, sellers started to liquidate at premium prices and buyers got exhausted at 4055. Then we tested again for liquidity at 4020.
The current high level is 4040; we need buyer pressure to break for higher prices.
Last week, I had some technical issues with my computer, and I couldn't publish the daily review for Thursday and Friday. Sorry for that.
We had a huge liquidation on Wednesday. Then we took liquidity at 3900, and buyers started to get active at 3915. They pushed market orders, consolidated over 3945, and got accepted 3985 as the new balanced price.
From here,...
Sellers are liquidating orders at 4020. However, there are passive buyers under 4000 buying at a discount. To maintain the uptrend, we need to liquidate all pending orders at 4020.
Let's be careful with the heavy buyer imbalance that happened during the Asian session.
We confirmed support at 4000, and we tested 4020, trying to break the seller pressure we found during the European session. Nevertheless, we need more buyers to reach 4025, let's check the volume.
On Friday, we pushed hard to break 4000 and tested 4025. During the Asian session we accepted 4025, but during the European opening, sellers pushed to retest 4000. It got rejected, and now, we need buyers to break the seller pressure, and test 4025 again.
Buyers entered at 3955. There are passive buy limit orders between 3950 -3960
But we couldnt accept price over 4000... at 4020, sellers stopped the price, and buyers didnt push.
For today, lets check if buyers can hold 3955, and if sellers can stop at 4020.
Slow but constant bullish trend, specially on the late session. Huge push for higher prices.
But CPI data can change everything, and start a liquidation, be careful
Aftger the buyer rejection at 3970, sellers started the liquidation. They pressed specially hard at 3960-3935 and moved price under 3900.
After that, buyers took control, rejected with violence 3900 and 3911, then they consolidated around 3935 (it was a previus level of resistance on december).
We will see if buyers can consolidate over 3935, and test 3970 again.
Huge rejection at the previus POC value. Yesterday was a day of heavy institutional activity,
Today we have to accept the price over 3900 to keep the bullish trend.
Market took orders at 3885, then started the liquidation
Sellers pushed hard to break 3850, and now it is the resistence for buyers
We need seller pressure to break the wall of liquidity at 3830 - 3825
